Beginning 2007, Dubai-based Chhabria controlled Jumbo electronics, will set up 80 cosumer durables’ stores across the country. All the stores, beginning with Delhi, will become operational within the next two years, reports Financial Express. The group has similar retail chains in Dubai and other Middle East countries.
The $1.5 billion Jumbo group is in talks with all major consumer durable companies like LG, Samsung, Godrej and Philips for sourcing their products, according to sources.
“We have been looking at India for the last 5-7 years for retail business because of our strong electronic retail presence in the middle-east countries,” said a company official.
Rs. 30,000 crore, consumer durables market is hotting up with modern retail players like Tata owned Croma, Videocon owned E-Mart, Chennai-based Viveks, Delhi-based IT Junction, Mumbai-based Vijay Sales, Next and Sony Mony, Kolkata’s Capital Store and Ahmedabad based Sales India.
The Jumbo group, with extensive sales and distribution network in the middle east, however, has the longest experience in retailing consumer durables.